Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Mr. Elvio Florian, the owner of the Italian wood production group Florian, and proprietor of Elda Drvo in Croatia, announced at the meeting at the Economic Chamber of Zagreb the new investment plan that his group has for Croatia. According to the plan, the Group will invest €25 million in the City of Vukovar to open a new factory for parquet flooring, the installation of cogeneration and the production of pellets, which will employ around 500 new people. Five to six smaller companies will also be contracted which could lead to further job creation in the wood sector.
Elda Drvo wants to establish a cooperation with sawmills and other companies that work in the wood sector. The company stated that it guarantees product competitiveness because the firm is present in many markets in the world. In Croatia, the firm achieved an increase in revenues of almost 8 percent in the last few years.
Updated, 27/11/2016: Florian Group, owned by the Italian businessmen Stefan and Elvi Florian, is planning on moving forward with its investment in Vukovar despite news that the plans have been halted by the Croatian national forestry company Hrvatske Sume. According to Hrvatske Sume’s President, Ivan Pavelic, Elda Drvo will not be able to obtain the raw materials of 80,000 cubic metres of wood needed to move forward with the project. However, in spite of this, the company has announced that it will continue with its plans.
Eurofound (2016), Elda Drvo, Business expansion in Croatia, factsheet number 87650, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/87650.
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